Should I use my home as my first investment
I am trying to decide my best strategy in developing my investments. I currently wholesale properties, but I am much more interested in flipping and rentals. My single family home in South Florida is financed for 185k at 3.5% fha. It has had some upgrades, but could use more. It has a legal addition in the back as a "Florida Room", but some work has been done (before we bought) to turn it into an efficiency. The main house is a 3/2. Comps are in the mid to high 200's. I know that the best option may be to finish the efficiency and rent out, however, I have 3 young children and am just not comfortable with "house hacking" because of it. I may be paranoid, but it makes me uncomfortable. Also, we don't love our area and would like to move in the next year or two. Given that our interest rate is so low, I am nervous about refinancing to perhaps get some cash out to invest in another property, but I'd like some input if that may be a good option. We could also sell, but finding a rental for what we pay now would be impossible and if we bought again, we would need most of the money we made from this house for that. We could also rent out the entire house and efficiency, but again, we would likely have to rent for a year to establish the income from the rental before purchasing again. I would love to hear some feedback as I feel like I am living in a great investment and I'd like to be able to utilize it to jumpstart future investments.